Refinancing allows the borrower to get better terms on an existing loan. Therefore, taking borrowed money, you should look for a chance to reduce the amount of the overpayment. To do this, it is periodically necessary to study the conditions offered by Sberbank - the leader of the banking sector often pleases Russians with lower rates than other well-known banks. Refinancing a loan at Sberbank - the conditions of 2019, the rates are very attractive.
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Conditions for refinancing loans for individuals
When a loan is issued on favorable terms, this does not mean that in six months or a year it will not become mediocre. For example, in some banks, just 2 years ago, interest rates were 10-12% higher than they are now. This means only one thing - individuals who have received a loan from a bank can refinance the repayment of the principal debt, thereby reducing the credit burden. Moreover, banks do not just go for it, but allocate on-lending to separate banking programs, making their conditions as favorable as possible.
It should be understood that refinancing should be applied for on time, that is, when there is financial stability and one's duties are fulfilled on time. Lenders are looking for financially stable, reliable borrowers and offer them favorable conditions to lure them to their bank. That is, refinancing has nothing to do with financial assistance. If there were any problems that led to a decrease in solvency or in general to delays, then this is a completely different program.
Which borrower will benefit from on-lending:
- Having several loans from one or more lenders in order to combine them into one loan and reduce the credit burden.
- Wanting to reduce the overpayment on an existing loan.
- Extend the loan term to reduce the monthly installment.
The refinancing itself is similar to a regular loan, so you can initiate it with an application form that can be submitted at any branch of Sberbank. Today, such a procedure cannot be performed online, since it will be necessary to provide a lot of information about the existing loan (s) and it is difficult to figure it out on your own.
You will need to provide the following documents:
- Passport, with a mark of permanent registration. In many cases, bank representatives will not refuse on-lending with temporary registration.
- Help 2-NDFL.
- A paper confirming employment and the necessary length of service (at least six months at the last place of work, from a year for the last 5 years). Such a document may be a copy of the work book or a relevant certificate signed by the employer.
After the approval of the on-lending, it is imperative to provide accurate information about all existing loans subject to refinancing. Sberbank must receive the following data: the exact amount of each loan, loan terms, rate, payment details.
Refinancing rate
On-lending at Sberbank takes place at one of the lowest rates on the market.
Refinancing a loan at Sberbank - conditions 2019
As representatives of Sberbank point out, these rates are fixed, that is, they cannot change, as it was before, when managers, after preliminary approval, named two values - the minimum and maximum, and indicated that the final percentage would be somewhere between them. Sberbank realized that this was inconvenient for a potential client and abandoned this practice. In addition, there are no additional commissions, payments.
Refinancing of consumer loans
Sberbank is ready to provide those wishing to refinance up to 3 million rubles, and for a long period - up to 5 years. The minimum loan term is 3 months. According to the requirements, citizens of the Russian Federation who have reached the age of 21 are eligible to apply for refinancing, the maximum age is 65 years. According to the rules, the borrower must repay the loan before the maximum specified age.
Refinancing is real if at least 12 monthly payments have been paid to the original lender without any breach of obligations. The minimum amount of time from the date of signing the old loan agreement to the refinancing is 6 months, if less, then it is impossible to check the payment discipline. Therefore, Sberbank will simply refuse.
Most lenders do not refinance their own clients, but Sberbank has simplified the procedure in this segment as well. So, any client has the right to count on refinancing consumer loans received at this bank if he has loans from other banks and expresses a desire to refinance them along with a loan from Sberbank.
Mortgage refinancing
If you need to refinance a mortgage , then at Sberbank you can count on the following conditions:
- amount - from 1 million rubles;
- crediting period - up to 30 years;
- rate - from 9.5%. The specified percentage is favorable, but it can change, for example, if you need to refinance a mortgage along with a regular loan, then the rate will be from 11.5%. If there is a need, in addition to on-lending, to additionally receive some amount on hand, then the rate will still increase (up to 12%). If there is no insurance, the bank will add 1%.
Citizens who have reached the age of 21 can apply for mortgage refinancing, the maximum age is 75 years. For greater stability, Sberbank is allowed to invite co-borrowers. As you can see, the possibility of refinancing a loan at Sberbank - the conditions of 2019 are very loyal and will suit many.